Police told the Herald they seized more than 2000 blank credit cards potentially worth $2500 each, 500 fraudulent NSW drivers’ licences, $25,000 in cash, high-end accessories including designer watches, and large amounts of high-end alcohol products. The federal police allege the man was central to a major Australian-wide money-laundering and fake document syndicate

Mr Zhang was set to appear in Sydney Central Local Court this morning but a translator was not available and the matter was held off until August 2. He faces 11 charges including dealing with the proceeds of crime, making false documents and possession of equipment used to make identification information.

In a statement the federal police said “the joint operation with NSW Police commenced in April 2011 and yesterday shut down the manufacturing and money laundering syndicate operating out of Sydney stopping a potential $5 million in fraudulent transactions”.